Energen Corporation (EGN) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. cut its stake in shares of Energen Corporation (NYSE:EGN) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,099 shares of the oil and gas producer’s stock after selling 1,690 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Energen Corporation were worth $2,277,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Karp Capital Management Corp acquired a new stake in Energen Corporation in the first quarter worth $627,000. Schroder Investment Management Group increased its stake in Energen Corporation by 16.4% in the first quarter. Schroder Investment Management Group now owns 202,166 shares of the oil and gas producer’s stock valued at $10,883,000 after purchasing an additional 28,537 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in Energen Corporation in the first quarter valued at $909,000. Credit Agricole S A increased its stake in Energen Corporation by 23.4% in the first quarter. Credit Agricole S A now owns 18,592 shares of the oil and gas producer’s stock valued at $1,012,000 after purchasing an additional 3,527 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Energen Corporation by 3.8% during the first quarter. Principal Financial Group Inc. now owns 397,564 shares of the oil and gas producer’s stock valued at $21,644,000 after purchasing an additional 14,577 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on EGN shares. SunTrust Banks, Inc. reissued a “buy” rating and set a $70.00 price objective on shares of Energen Corporation in a research report on Monday. Mizuho restated a “buy” rating and issued a $69.00 target price on shares of Energen Corporation in a research note on Friday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $79.00 target price on shares of Energen Corporation in a research report on Sunday, September 3rd. Morgan Stanley boosted their target price on Energen Corporation from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, August 31st. Finally, Imperial Capital started coverage on Energen Corporation in a research note on Tuesday, August 22nd. They set an “outperform” rating and a $61.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.63.
Shares of Energen Corporation (NYSE:EGN) opened at 54.68 on Monday. Energen Corporation has a one year low of $46.16 and a one year high of $64.44. The company has a 50-day moving average price of $50.55 and a 200 day moving average price of $52.02. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 86.52 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The firm had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. During the same period last year, the business posted ($0.28) EPS. The company’s revenue for the quarter was up 142.8% on a year-over-year basis. Equities research analysts expect that Energen Corporation will post $0.39 earnings per share for the current year.
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About Energen Corporation
Energen Corporation is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
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